IETA calls on European lawmakers to reach swift agreement on ETS revision

BRUSSELS, 12 December -- The International Emissions Trading Association today called on members of the European Parliament’s environment committee (ENVI) to reach a swift agreement on amendments to the proposed EU ETS revision.

The committee delayed a vote on compromise amendments until Thursday December 15 after political groups could not reach agreement ahead of the original December 8 deadline. Shadow rapporteurs from all political groups will meet today, Monday December 8, to continue discussions with a view of reaching a compromise.

“MEPs need to adopt a common position on the revision in a timely manner, so as to avoid any further delays to the legislative process,” said Dirk Forrister, chief executive officer of IETA.

"We are pleased that a number of improvements are under consideration that could bolster the ETS's role as the centerpiece of European climate policy, and we look forward to seeing a compromise package that helps the EU achieve its Paris goals cost effectively."

About the EU ETS Revision

First tabled by the European Commission in July 2015, the Revision set out changes to the EU ETS for the fourth phase of the market, starting in 2021.

The Commission proposed to increase the rate at which the market cap is reduced to 2.2% per annum; to retain the share of permits to be auctioned at 57% of the total; and to revise the system of allocating free permits to energy-intensive trade-exposed industrial sectors.

The proposed legislation must be reviewed, amended and approved separately by the Parliament and the member states in Council, before they join the Commission in a trilogue process to agree a common text.